$642M Terminal Puerto Bahía Under Development

MarineLink.com
Friday, January 10, 2014
Source: Pacific Infrastructure

Pacific Infrastructure, a subsidiary of Canadian oil company Pacific Rubiales, is developing the multipurpose terminal Puerto Bahia in the South of Cartagena Bay on Colombia’s Caribbean coast.

In September 2012 Pacific Infrastructure awarded the construction of the multipurpose terminal to a consortium formed by Isolux Corsán (Spain), Tradeco (Mexico) and Tampa Tanks (U.S.). The construction of Puerto Bahía is scheduled to be completed during the first half of 2015.

Financing
The total investment amount required for the development of the terminal for handling bulk liquids and general and dry bulk cargoes is $642 million.

In July 2013 the International Finance Corporation (IFC) of the World Bank Group and two funds managed by the IFC Asset Management Company signed an agreement to make their largest-ever equity investment in Colombia’s infrastructure, providing US$ 150 million in support of the Puerto Bahía project.

In October 2013 the Brazilian Banco Itaú BBA S.A. provided a US$ 370 million loan for the project; the Development Bank of Latin America (CAF) approved an additional long-term loan of US$ 50 million in December 2013.

Puerto Bahía has received Free Trade Zone status from the Colombian National Tax and Customs Authority, allowing for significant tax benefits and customs duties exemptions.

Terminal characteristics and facilities:

  • Total area of about 155 hectares for port facilities and industrial park
  • Natural water depth of 19+ meters.
  • Phase 1 storage capacity of 3 million barrels of crude and derivatives to be increased to 4 million barrels in Phase 2.
  • Projected port throughput of 54 million barrels per year.
  • Two docking positions / jetties for VLCC vessels.
  • Fully interconnected tank farm including access to local refineries and crude oil pipeline.
  • Two berths for the handling of dry bulk and general cargo with a total length of 541 meters and the capacity to accommodate of up to 80,000 DWT
  • Dry bulk storage area with a capacity for handling 40,000 tons per month.

 
Oil Pipeline
As an integral part of the Puerto Bahía project, Pacific Infrastructure is also developing the Oleoducto del Caribe (Olecar) a 130 km, 30 inch diameter, crude oil pipeline that will connect Puerto Bahía’s facilities with Colombia’s principal crude export terminal in Coveñas. It will also include a bi-directional connection between Puerto Bahía and Refinería de Cartagena – Reficar (Colombia’s second-largest refinery, currently undergoing a $6.5 billion expansion).

Puerto Bahía is being structured as a large-scale facility available for public use, which will be the first of its kind in Colombia. Nowhere else in the country can a customer lease storage capacity for exclusive use and have control over its logistics and commercialization process to such an extent. The liquids facility will be operated and maintained by Oiltanking International Inc., a leading operator of port terminals currently present in 73 terminals across 23 countries

  • Source: Pacific Infrastructure

    Source: Pacific Infrastructure

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

Ports

HMAS Success Deploys to Middle East

After months of preparation, HMAS Success departed Garden Island in Sydney today for a six-month deployment to the Middle East Region to provide logistic support

Rosneft Ships First Oil From Chayvo Field

Rosneft commenced shipment of crude oil extracted at the Northern Tip of Chayvo license off the coast of Sakhalin, with the first tanker carrying Sokol-grade crude leaving port on November 21.

Houston Port Commission Approves budget

The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority.   Projections

Finance

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Houston Port Commission Approves budget

The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority.   Projections

News

USCG Assist Duck Hunters Near Harrington Beach Park

The Coast Guard and the Port Washington and Cedar Grove Fire Departments came to the assistance of two duck hunters on Lake Michigan Friday. The names of those involved are not being released.

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3704 sec (3 req/sec)